The Philippines Securities and Exchange Commission (SEC) issued a fraud warning against BG Wealth Sharing Ltd. on January 28, 2026, labeling it an unregistered Ponzi scheme targeting overseas Filipino workers (OFWs), according to official SEC statements. Promoted by a fictitious “Professor Stephen Beard,” the scheme promises high returns through a “click a button” app tied to fake trading on DSJ Exchange (DSJEX), SEC filings. This marks a significant enforcement action against MLM crypto Ponzi schemes, with penalties up to 5 million PHP or 21 years imprisonment for promoters.
BG Wealth Sharing operates as a classic product-based pyramid scheme, requiring investors to deposit funds for promised profits, paid from new recruits rather than legitimate trading or regulatory analysis. The attached DSJEX platform simulates trading but generates no real revenue. Since launch, the scam has rotated domains like bg662.com (abandoned January 19, 2026) to lk0860.com and dsjvm.cc, evading detection, domain registration records. Traffic primarily originates from Germany, the Dominican Republic, and the UK, indicating global reach, according to SimilarWeb data.
In addition to the Philippines, regulators in British Columbia, Alberta, the UK, Tonga, and Australia have issued BG Wealth Sharing and DSJEX fraud alerts on their respective authority websites. These actions reflect coordinated efforts against MLM crypto schemes, similar to GSPartners ($1B+ losses) and Forsage. The SEC emphasizes that BG Wealth Sharing’s lack of registration violates the Securities Regulation Code, prohibiting solicitation without authorization.
The Philippines SEC urges the public to avoid BG Wealth Sharing and report promoters. Investors should verify entities via sec.gov.ph and avoid schemes promising guaranteed returns, etc. Bitcoin (BTC) ($113,234) and Ethereum (ETH) ($4,070) remain unaffected, according to CoinMarketCap, but Ponzi warnings reinforce caution in altcoins. Diversify into regulated assets like USDC with stop-losses below BTC’s $112,000, TradingView. Follow @TheBlock__ on X for updates. BG Wealth Sharing’s collapse underscores the need for vigilance amid crypto’s growth.
